The world recently lost an investing icon with the passing of Charlie Munger at the age of 99. As the Vice Chair of Berkshire Hathaway, Mr. Munger was Warren Buffett’s sidekick for the past 45 years. This dynamic duo created one of the most admired businesses on the planet, Berkshire Hathaway based in Omaha, Nebraska. Over the years, his punchy viewpoints came to be known as Mungerisms. Below are a few of them:
"The big money is not in the buying and selling, but in the waiting."
"The first rule of compounding: Never interrupt it unnecessarily."
"Show me the incentive and I will show you the outcome."
"The first rule of happiness is low expectations” (my wife Carol’s favorite)
"Three basic rules for career satisfaction
• Work only with people you enjoy.
• Don’t work for anyone you don’t respect and admire
• Don’t sell anything you wouldn’t buy yourself."
"I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help – particularly when you have a long run ahead of you."
"It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent."
"The best thing a human being can do, is to help another human being know more."
Charlie Munger’s quotes are found in many places on the Internet.